Julia Budd to take over as chair of charity Racing Foundation next year

Julia Budd has been named as the new chair of the Racing Foundation, the charity set up in 2012 to manage racing's share of the proceeds from the sale of the Tote.

She will succeed Ian Barlow, who will step down at the start of 2022 after six years and two terms on the Racing Foundation's board.

Budd is a well known figure in racing, having become the Jockey Club's first female steward – effectively a director – in 2011, then becoming the organisation's deputy senior steward before stepping down last year. She is also chair of Epsom Downs racecourse and the British Racing School.

Earlier this year the Racing Foundation pledged to continue the growth in funding it had provided to the industry as it launched its new three-year strategy.

That strategy is focusing on four key areas – community engagement and environment, people, equine welfare and emerging issues – and Budd said they were issues which were important to her.

She told the Racing Post: "I'm still very much in a getting-to-know mode but what struck me more than anything is the Racing Foundation is focusing on the issues which really matter for racing and give it a licence to operate.

"It is fair to say there are increasing pressures on racing, you only have to look at the issues around horse welfare for example, and there are a lot of really positive things the Racing Foundation is doing, be it around horse welfare or people welfare. Also the new focus on the environment.

"They are really thinking about enabling the sport to be sustainable and caring hugely about the people who work in it. Who wouldn't get excited by that remit? They also happen to be some of the issues that I care about personally."

Epsom Downs: Julia Budd is chair of the trackCredit: Edward Whitaker

The Racing Foundation, alongside the Levy Board, stepped up with a substantial package of grants and loans for racing in the immediate aftermath of the Covid-19 outbreak last year.

Its endowment now stands at more than £100 million, while it has contributed more than £23m in grants to strategic projects.

Barlow said: "I'm pleased we have been able to play an increasingly strategic role working in partnership with all key stakeholders to support such work, which is crucial to our licence to operate as a sport."

Read more:

Racing Foundation aims to accelerate funding as it launches three-year strategy

Hardship package of £22m revealed to help in racing's 'incredibly tough battle'

The Racing Foundation: we are here to support key charities during tough times

Download the free Racing Post app for cards, form, tips, in-app betting and to watch live races. Download for free at racingpost.com/mobile or search Racing Post app